No Picture
Trading Ideas

BlackRock Says PNC to Sell Stake, Plans $1.1 Billion Buyback

(Bloomberg) — BlackRock Inc. said PNC Financial Services Group Inc. will exit its full investment in the world’s largest asset manager.PNC will offer the shares in a public secondary offering, BlackRock said in a statement Monday. As part of the transaction, BlackRock will buy back $1.1 billion in the shares directly from the firm.The decision concludes years of questions over how long PNC would hold on to its stake in BlackRock, where it was the largest holder at 22%. PNC played a crucial role in BlackRock’s history, acquiring it for $240 million in 1995. The move split it from alternative …read more […]

No Picture
Business News

Global equities markets waver, bonds dip on fears of second wave of infections

Global equities wavered on Monday as investors weighed a jump in coronavirus cases in South Korea and Germany against signs that more parts of the U.S. economy could soon emerge from economic lockdown. Safe havens such as U.S. Treasuries edged higher in anticipation of further stimulus measures to limit the damage of the COVID-19 pandemic.

…read more […]

No Picture
Trading Ideas

Tesla reportedly restarts production at Fremont factory

On Saturday, Tesla filed a lawsuit against Alameda County for not allowing the company to restart operations at its factory based in Fremont, California, and CEO Elon Musk threatened to move Tesla’s headquarters to Nevada or Texas. By Monday, multiple reports emerged that employees were spotted at the factory, and that Tesla began making cars again. The Final Round panel discusses what’s next for the automaker. …read more […]

No Picture
Trading Ideas

The Perfect Contrarian Indicator Pays Off… Yet Again

One economist’s consistently flawed predictions serve as a nearly perfect contrarian indicator.
Today, Alexander Green explains why this man’s coronavirus predictions are paying off yet again.

The market’s historic bounce off the March 23 bottom has gone on longer and driven share prices higher than most investors expected.
(But not us. I issued a Portfolio Update to my Oxford Communiqué subscribers on March 24 with the headline “It’s Time to Load Up Again.”)
Indeed, the Nasdaq hit a new high for the year last week.
This has left many economists, analysts and other financial “experts” scratching their heads, insisting that the rebound makes no sense.
Wrong.
The …read more […]